EU leadership needs to embed human rights into economic policy-making


In a valuable step forward to support human rights compliant economic policy-making, the UN Human Rights Council (HRC) called on 21 March for governments and intergovernmental organisations to make use of new UN guidance when developing economic reforms.

EU states on the HRC boldly exercised their votes to oppose these calls, in a move that stands in direct contrast to EU commitments from only two years ago to adopt a rights-based approach to development, and support countries in building resilience to prepare for and respond to economic shocks without compromising long-term development prospects.
New UN guiding principles add to the debt management toolbox
The HRC resolution on the effects of foreign debt on the enjoyment of human rights highlights new UN Guiding Principles on human rights impact assessments of economic reforms – designed as a tool to help states and international financial institutions (IFIs) meet the challenging task of balancing the aims of fiscal sustainability and macroeconomic stability with the protection and fulfilment of universal human rights.
First published on Public Finance International. Read the full article.